The U.S.-U.A.E. Business Council and the Trade and Commercial Office of the U.A.E. Embassy in Washington, D.C. have released a groundbreaking report titled “The Entrepreneurial Emirates: The U.A.E.’s Startup Ecosystem and Opportunities for U.S. Investors.”
The first-of-its kind report details how the U.A.E. has long served as a magnet for regional entrepreneurs who are seeking to start or scale businesses. This is particularly true for businesses in the e-commerce sector, where the country has given rise to blockbuster successes such as Souq.com.
This trend shows no signs of abating. The U.A.E. provides startups with a business-friendly environment with low taxes and relatively favorable regulations. The country also offers strong government backing of SMEs as well as numerous co-working spaces, incubators, accelerators, training programs, and networking opportunities to get new businesses off the ground. In addition, it presents avenues to raise capital from a large and growing number of venture capital firms, private equity firms, and angel investors.
“There has never been a better time for startups to establish operations and investors to access deal flow in the U.A.E.,” according to U.A.E. Commercial Counselor Saud Al Nowais.
According to Al Nowais, enterprising U.S. investors looking to enter this space will find numerous startups that are set up to succeed by strong underlying economic currents and a supportive ecosystem. They will also find a demand for venture capital and attractive valuations for promising ventures. Finally, they will enjoy a business-friendly environment in which to establish operations, forge investment partnerships, and access intriguing opportunities in the wider Middle East Africa South Asia (MEASA) region.
U.S.-U.A.E. Business Council President Danny Sebright notes, “These opportunities are only increasing as attitudes and philosophies toward venture capital rapidly shift for the better and as legal and business reforms accelerate in the U.A.E. and the wider Gulf region.”
Additional information can also be found at a new website, www.investuae.com, which provides a high-level overview of the benefits the U.A.E. provides both startups and investors.